Latest Business News
High-income earners need to re-register for child benefit
Child benefit supports parents or guardians of children under 16, or under 20 if in approved education, by contributing towards the costs of raising them. Since January 2013, the High Income Child Benefit Charge (HICBC) affects those earning above a
The rise of the higher rate taxpayer
The Government continues to freeze both the personal allowance and the higher-rate income tax thresholds – leading to an increase in the number of higher-rate taxpayers this year. The result of ‘fiscal drag’ – a phenomenon where tax thresholds fail
New tax year – New tax rules
With the start of the new tax year, taxpayers can expect significant changes that will directly impact their finances in the next tax year (2024/25). If you haven’t already, it’s time to closely examine your financial planning, including savings, investments,
Redundancy regulations are changing – What it means for your payroll and policies
From 6 April 2024, UK redundancy rules will change, particularly surrounding pregnant employees and those on family-related leave. The new legislation extends the ‘protected period’ for redundancy to 18 months after the birth or adoption placement, requiring employers to prioritise
HMRC income tax receipts rise by £2 billion
HM Revenue & Customs (HMRC) recently reported a £2 billion increase in income tax receipts, reflecting a strong self-assessment period and an evolving dynamic within the tax landscape. The Government’s recent changes, including adjustments to National Insurance Contributions (NICs), have
A third of UK business owners do not know their company’s value – do you?
New research by Marktlink suggests that around 33 per cent of UK business owners are unaware of the value of their company – only slightly lower than the European average figure of 40 per cent. While you are not alone
Are barriers to investment harming your productivity?
A survey by the Bank of England (BoE) and the Department of Business and Trade has identified a potentially significant challenge facing SMEs on their journey towards growth. The survey’s findings indicate that investment is crucial to sustaining growth for
Five steps to growing your business, safely
There is an inherent degree of risk in any business growth strategy – but keeping this risk to a minimum can help you grow your business without sacrificing your hard work. Growing your business hinges on your ability to take
Spring Budget ushers in property tax shake-up
The Chancellor delivered his 2024 ‘Budget for long-term growth’ in the face of an upcoming general election. Although the headlines have been dominated by the news that employee National Insurance Contributions will be cut further to eight per cent, Mr
Overhaul of non-dom tax status – What does it mean for those affected?
You may have already heard that the Chancellor, Jeremy Hunt, has announced an end to the preferential tax treatment that non-domiciled individuals (non-doms) currently receive. At the moment, a non-dom – someone living in the UK but domiciled in another